Skip to main content

Featured

Fed Turmoil Sends U.S. Futures Lower as DOJ Targets Powell

U.S. stock futures retreated as investors reacted to an unprecedented clash between the Federal Reserve and the Department of Justice. The downturn followed news that the DOJ has launched a criminal investigation involving Fed Chair Jerome Powell, injecting fresh uncertainty into financial markets already sensitive to policy signals. Dow, S&P 500, and Nasdaq futures all slipped in early trading, reflecting a broad pullback from recent highs. Tech‑heavy Nasdaq futures led the decline as traders reassessed risk appetite. The investigation centers on Powell’s testimony regarding renovations to Federal Reserve facilities. Powell has characterized the probe as politically motivated, suggesting it stems from tensions over the Fed’s resistance to political pressure on interest‑rate decisions. The episode has raised renewed concerns about the independence of the central bank — a foundational element of market stability. Investors are now weighing whether the conflict could influence up...
Post a Comment
Read more

article

Labels

Wall Street Slips to Start 2024 and Gives Back Some of Last Year’s Big Gains

 


The stock market started the year on a negative note, with Wall Street slipping and giving back some of last year’s big gains.

Futures for the S&P 500 lost 0.8% before the bell on the first trading day of 2024, while futures for the Dow Jones Industrial Average slid 0.7%. The S&P 500 slipped 13.52 points, or 0.3%, to 4,769.83. The benchmark index still posted a rare ninth consecutive week of gains and is just 0.6% shy of an all-time high set in January of 2022.

The Dow Jones Industrial Average fell 20.56 points, or 0.1%, to 37,689.54 after setting a record Thursday. The Nasdaq slipped 83.78 points, or 0.6%, to 15,011.35, but that was barely a blemish on an annual gain of more than 43%, its best performance since 2020.


Labels:

Comments

Post a Comment